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Search Results 0 to 8 of about 9 (some duplicates have been removed)
Feb 14, 2013 12:30am EST
't cut spending, he and the new republicans would force the issue. >> we all saw the debt ceiling as the best lever we had to make some changes, to deal with the spending problem, to deal with the big government problem. >> if the government were to fail to raise the debt ceiling, you would see an immediate panic in the market... >> white house showdown with house republicans... >> narrator: at the white house, treasury secretary timothy geithner knew just how serious cantor's threat was. >> geithner says, "we could trigger a depression worse than the 1930s. it will be indelible. it will be... it will last for generations." tim geithner is one scared secretary of the treasury. >> when secretary geithner and the rest of us spoke to the president, we were very clear. a default would be unprecedented in our country. it would absolutely lead to a serious downgrading of our credit rating. >> narrator: geithner said they had only weeks to act before the country ran out of money. >> geithner believes very strongly that we must get a deal. you cannot let this thing unravel. the markets wi
FOX News
Feb 14, 2013 1:00pm PST
failed to get any negotiation with republicans over the debt ceiling. he said guys, i have an idea, it's called sequester. $1.2 trillion over 10 years. you know what republicans said in we don't like that you want half the cuts to come from defense. no, we're going to do it. now the president doesn't want it because he's not interested in cutting. >> they both signed on to the agreement. i called it a backup backbone. but i agree with you on this, the cuts are not cuts, they're shaving off the growth of varies programs in the future so nothing is outright cut. in a $3.5 trillion budget, $82 billion is a joke. having said that, it's better than nothing. it's better than just letting this pass by. >> right. you know why it's better? the american people have said that the debt in our debt deficit is their biggest worry. pew research did a study and guess where the deficit and debt was with american people. number one. american people know what's good for the country but the president doesn't seem to. i think the sequester is a great start but i want your -- i want everybody to understand
Feb 14, 2013 3:00pm PST
you mean by hostage politics? >> well, you see the republican party every time the debt ceiling comes up trying to leverage that, making sure the president can't pass anything else, that we don't get past that debate unless they get their way i think the american people want us to get past that. the debt is very important but you can't have the same fight that's disruptive every six months. >> woodruff: congressman collins how do you see that? >> i think what we've got to do is look -- of course we represent everyone. in our districts and everyone in our state but more importantly everyone in our country. what we have to understand is we fight for the principles we ran on, we fight for the principles we believe in this country from an economic standpoint make us great. what we've got to understand here is many times these issues that divide us also can bring us together but it's not going to be one from bringing up the same old thing and to respond to the point of republicans, it's also been a theme of the democratic party as well to go back to taxing certain classes of people and tha
Feb 13, 2013 10:00pm PST
caught tampering with this stuff again like we did on debt ceiling. but how does boehner try to keep control of his side on this? >> well, and that has been the big question. it is remarkable, actually, that we were able to avoid the fiscal cliff. i mean, we sort of went over it and we were able to keep that intact. and the republicans basically blinked, they realized on some level that they were becoming known as the party of manufacturing crisis. this was all they -- that they had to offer the country. if they go down that path too many times, their approval ratings are already at all-time lows. they can't sink any further in the public's estimation. and we're looking at sequester and continuing resolution. we're going to have another debt ceiling debate in the summer. now rather than the burden being on the democrats to figure out the problems, i really think the burden is on the republicans because if they have cause these crises time and time again, the american public sees what is going on and understands who is responsible. >> the president is offering them the chance to avoid
Search Results 0 to 8 of about 9 (some duplicates have been removed)